Douglas Hodge Biography, Douglas Hodge Wiki
Douglas Hodge is a former CEO of Pacific Investment Management Company, Pimco, became the 14th parent sentenced in the nation’s blockbuster college admissions scandal.
Hodge pleaded guilty in October to fraud and money-laundering charges, admitting he paid hundreds of thousands in bribes to a corrupt college admissions counselor, Georgetown’s tennis coach, and others. Federal prosecutors in Boston called him one of the “most culpable” of the 36 parents charged in the college admissions scandal and recommended he be sentenced to two years in prison when he’s sentenced on Friday.
Hodge, who spent several years living in Tokyo with his family while heading Pimco’s Asia division, also gave generously to a rural school and orphanage in Cambodia. A 21-year-old architecture student who grew up in the orphanage wrote that he would have wound up living on the streets if not for Hodge’s support for the past 12 years.
Douglas Hodge Age
He is 62 years old.
Douglas Hodge Sentenced
U.S. District Judge Nathaniel Gorton also ordered him 500 hours of community service and to pay a $750,000 fine.
“Mr. Hodge, your conduct in this whole sordid case is appalling and mind-boggling at the same time,” the judge said. “There is no term in the English language to describe your conduct better than the Yiddish term chutzpah.”
Prosecutors recommended a two-year prison sentence for Hodge, who engaged the scheme’s mastermind, Rick Singer, on five occasions over an 11-year span, making him one of the most prolific participants in the plot. Hodge paid bribes to get two of his children into the University of Southern California and two others into Georgetown University as fake athletic recruits. He also was accused of unsuccessfully trying to bribe a fifth child into Loyola Marymount University.
Mr. Hodge paid a total of $850,000 to the company and charity of the scheme’s ringleader, William “Rick” Singer, as well as to Georgetown’s former tennis coach and a University of Southern California account controlled by an administrator who was also charged in the case. His tab was the largest of any of the 36 parents charged.
Hodge is the first of four parents to be sentenced over the next month after each pleaded guilty in deals with federal prosecutors. Others are Michelle Janavs and Manuel and Elizabeth Henriquez. and Elizabeth Henriquez.
Fifty-three people, including 36 parents and college coaches, are charged overall in the college admissions case. Thirty-one have either pleaded guilty or agreed to plead guilty later, while the remaining 22 people prepare for trial.
Douglas Hodge Apology
Mr. Hodge gave a tearful apology in court and, after the judge imposed his sentence, hugged a friend who had come with him. “I know my actions were inconsistent with the person I tried to be in this world,” he told the judge.